Most Everyone Is Ignoring the Carnage Taking Place In a Portion of the Stock Market, Says Doug Kass
So much happening in the market, so little time. The Business Media Fiddles While the Nasdaq Burns "The combination of central bankers' unprecedented largesse (and liquidity) when combined with mindless quant…
From the USA News Group archive. This article dates from Jun 13, 2017 and is preserved as first published.
So much happening in the market, so little time.
The Business Media Fiddles While the Nasdaq Burns
–Kass Diary, My Market Outlook in One Sentence
So, what is the lesson?
Always evaluate your holdings and exposure — not on what you watch on Fox,CNBC or Bloomberg (or for that matter what you read in my Diary) — but, rather based on an assessment of reward vs risk (on stocks, sector and markets), a clear understanding of your risk appetite (and profile) and in consideration of your timeframes.
Talking heads are just that, full of a lot of breathless commentary — most usually reflected in a bullish narrative.
Moreover, should the market continue in a southerly route, I will guarantee you that few will admit to investment boners. These “carpet sweepers” will have told you that they saw this coming — reminding me of a Buffettism that “the rear view mirror is far clearer than the windshield.”
I would expressly take note of Rudi Dornbush’s words of wisdom that I cited earlier:
“The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought.”
